CA > Los Angeles
Los Angeles, CA 90042,144 S Avenue 55
Los Angeles, CA 90042,144 S Avenue 55
Los Angeles, CA 90042,144 S Avenue 55
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Shawn Kormondy

Shawn Kormondy

+1(323) 638-7567
$3,825,000
Est. payment /mo
19 Beds
16 Baths
11,048 SqFt
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UPDATED:

08/08/2024 06:52 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 11,048 sqft

Price per Sqft $346

MLS Listing ID 24-406843

Bedrooms 19

Year Built 1961

Lot Size 0.365 Acres

Property Description

*** $125,000 price reduction **** 144 S. Avenue 55 is a well-maintained 16-unit courtyard-style property located 1 block south of Figueroa St, the commercial hub of Highland Park. Notable tenants of this lively hub include Highland Park Bowl, Go Get 'Em Tiger, Mendocino Farms, Highly Likely, Blind Barber and more. In addition, the property is approx. 2 miles from Occidental College, and could potentially be an off-campus student housing option. Built in 1961, this courtyard-style property features (3) 2-bdrm. units & (13) 1-bdrm. units. Please note, there is a VACANT 2-bdrm. unit. The property presents a substantial value-add opportunity with approx. 78% rental upside. At projected market rents, the property will stabilize at a 8.34% CAP and 9.01 GRM. 144 S. Avenue 55 can be purchased individually or in conjunction with a 10-unit property w/ approx. 60% rental upside, located 1 mile away (1223 N. Avenue 56). Please contact LA1 for more info.

Location

State CA

County Los Angeles

Area Highland Park

Zoning LARD1.5

Rooms

Other Rooms None

Interior

Heating Other

Cooling Wall/Window

Equipment Other

Laundry Community, Room

Exterior

Garage Uncovered

Garage Spaces 16.0

View Y/N No

View None

Building

Story 2

Level or Stories Two

Others

Special Listing Condition Standard

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Listed by Compass

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Shawn Kormondy

+1(323) 638-7567

Agent | License ID: 01451888

Agent License ID: 01451888

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